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No, I oppose that vehemently. It will be far more profitable to sell domestically produced oil here in North America. If not, then who cares? We are still getting the economic benefits of the exports, and the added supply. Let the market take care of itself. All this well intentioned meddling by the government is the reason we have problems to begin with. Stop playing social engineer and let the people and companies decide what is in their own best interest.
hang on. we're already the 2nd or 3rd largest oil producer in the world. why isn't your solution already working???
Because we still import 60% of our oil from other nations. We are literally bent over a barrel. We require about 20 million bbls per day to meet demand. We currently produce about 8 million bbls per day. If we increase domestic oil production to 20 million bbls per day we are completely independent- regardless of where the oil is sold.
The more oil on the market, the greater the supply to demand and that means a decrease in price. It's also good for the GDP.
how? those private companies own that oil and sell it on the open market. do you want to nationalize the oil industry here and keep our oil here?
Absolutely.
But there's no need to nationalize. Just put an export tax on it to make it unprofitable to sell it anywhere but here.
oh, so you want to create a law where the tax is so steep that those private companies are forced to only sell it here to make a profit. a sneaky way to not nationalize the oil industry but keep our oil here.
The market will decide for them. We have a huge economic advantage - our population is approx 350 million- the 22 Arab League nations have a population of about 375 million. The GDP of all the Arab league nations combined is about the same as the GDP of California. Oil represents 35% of Arab League GDP and less than 2-3% of ours. Let's beat them at what we are good at - business! When you really look at the situation, they are far more reliant on OIL that we are....35% of their economy is reliant on Oil. Once we are producing enough to meet our domestic requirements, we can destroy their economies with ease. That is what I call "energy independence".hang on. we're already the 2nd or 3rd largest oil producer in the world. why isn't your solution already working???
Because we still import 60% of our oil from other nations. We are literally bent over a barrel. We require about 20 million bbls per day to meet demand. We currently produce about 8 million bbls per day. If we increase domestic oil production to 20 million bbls per day we are completely independent- regardless of where the oil is sold.
and if those private companies in the U.S. choose to sell the oil elsewhere, you're convinced that the power of the middle east (which is what this thread is all about) would be diminished and we would stop making the people who hate us/wanna kill us rich?
Absolutely.
But there's no need to nationalize. Just put an export tax on it to make it unprofitable to sell it anywhere but here.
oh, so you want to create a law where the tax is so steep that those private companies are forced to only sell it here to make a profit. a sneaky way to not nationalize the oil industry but keep our oil here.
Now you're catching on, Skippy.
The more oil on the market, the greater the supply to demand and that means a decrease in price. It's also good for the GDP.
well, china (and other developing counties) is not far from demanding a huge amount of oil (compared to what they demand now). so it appears it's a race. and the middle east just keeps getting richer and funding people that wanna kill us.
Rip Texas to shreds first. we don't want drilling in the Gulf, or near our shores. Ever heard of TROPICAL STORMS?Yup.
We should be drilling in ANWAR, off the Coast of Cali, Florida and in the Gulf. If we have our own oil then we can tell the ME to fuck off.
Hopefully they will all off themselves for their religioin.
Supplement with solar, hydro, wind and other sources also. LOWER demand.Wiki:Historical trend
America's dependence on foreign oil rose from 26 percent to 47 percent between 1985 to 1989.[6]
America's dependence on foreign oil fell below 50 percent in 2010, the first time since at least 2000.[7]
United States energy independence - Wikipedia, the free encyclopedia
Our dependence hasn't been lower in years, US production highest in years, alternative energy on a roll, first nuke plant in 35 years, oil rigs are SAFER than in years. It's called intelligence. Whereas Raygun and BOOSH were greedy morons- As always with Pubs. Try changing the channel and getting some facts intead of BS propaganda, dittoheads...
I know...let's subsidize fossil fuels to the tune of 5 TIMES what renewables get!
That'll make it even HARDER for renewables to compete!
The more oil on the market, the greater the supply to demand and that means a decrease in price. It's also good for the GDP.
well, china (and other developing counties) is not far from demanding a huge amount of oil (compared to what they demand now). so it appears it's a race. and the middle east just keeps getting richer and funding people that wanna kill us.
That's a projection chart and also who knows who made it using what data. Forcasting the future is a sticky game and usually wrong. So it's not relevant to reality.
If you want the 1-up talking point, you can have it. but it isn't really relevant to what we're saying regarding domestic production.
Rip Texas to shreds first. we don't want drilling in the Gulf, or near our shores. Ever heard of TROPICAL STORMS?Yup.
We should be drilling in ANWAR, off the Coast of Cali, Florida and in the Gulf. If we have our own oil then we can tell the ME to fuck off.
Hopefully they will all off themselves for their religioin.
If you want the 1-up talking point, you can have it. but it isn't really relevant to what we're saying regarding domestic production.
nor is the stuff you guys are talking about as it relates to the topic of thread (taking away the power of the Middle East).
The ultimate goal of energy policy should be increased economic security, energy security and energy independence. We can accomplish those goals by more drilling and exploration here at home.
how? those private companies own that oil and sell it on the open market. do you want to nationalize the oil industry here and keep our oil here?
No, I oppose that vehemently. It will be far more profitable to sell domestically produced oil here in North America. If not, then who cares? We are still getting the economic benefits of the exports, and the added supply. Let the market take care of itself. All this well intentioned meddling by the government is the reason we have problems to begin with. Stop playing social engineer and let the people and companies decide what is in their own best interest.
If you want the 1-up talking point, you can have it. but it isn't really relevant to what we're saying regarding domestic production.
nor is the stuff you guys are talking about as it relates to the topic of thread (taking away the power of the Middle East).
How do you figure?
We are involved (supposedly) in the middle east over oil. Creating our own domestic productions to fill our needs and skipping the imports from those countries takes away a portion of their power over us. the middle east doesn't like the US for an assortment of reasons. You want me to name them and how we can cut the ties and perhaps even foster good diplomacy with that region?
More so, what does China have to do with that power in correlation to us?
WTF are we talking about here??
And there's the answer, only allow producers and end users to trade in oil.how? those private companies own that oil and sell it on the open market. do you want to nationalize the oil industry here and keep our oil here?
No, I oppose that vehemently. It will be far more profitable to sell domestically produced oil here in North America. If not, then who cares? We are still getting the economic benefits of the exports, and the added supply. Let the market take care of itself. All this well intentioned meddling by the government is the reason we have problems to begin with. Stop playing social engineer and let the people and companies decide what is in their own best interest.
Blame Oil Speculators, Not Obama, For Rising Oil Prices | ThinkProgress
Historically, financial speculators accounted for about 30 percent of oil trading in commodity markets, while producers and end users made up about 70 percent. Today it’s almost the reverse.
A McClatchy review of the latest Commitment of Traders report from the Commodity Futures Trading Commission, which regulates oil trading, shows that producers and merchants made up just 36 percent of all contracts traded in the week ending Feb. 14 while speculators who will never take delivery of the oil made up 64 percent.
